Udaipur headquartered Hindustan Zinc Limited has committed to set the long-term target to reach Net Zero-emission by 2050. The target has aligned with a Business Ambition for 1.5 C campaign led by the Science-Based Targets initiative (SBTi), a Science-Based Targets initiative. The initiative is an ambitious collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World-Wide Fund for Nature (WWF).
The company recently launched its first Task Force on Climate-related Financial Disclosures (TCFD) Report based on TCFD recommendations and guidance. The company has pledged to set the climate targets in line with limiting the global temperature rise to 1.5°C. (Business Ambition for 1.5 C campaign- SBTi).
On committing to Business Ambition for the 1.5°C Campaign, Arun Misra, CEO, Hindustan Zinc adds, “Sustainability has always been the most prominent vision of Hindustan Zinc. The consequences occurring globally due to climatic change demonstrate that our Earth is very vulnerable to global warming. It’s time that we should do our part to control and limit the global temperature rise.”
“1.5°C is #OurOnlyFuture and being a responsible corporation, we have set a goal to achieve net-zero emissions by 2050. We have committed to the ‘Business Ambition for 1.5°C’ campaign to set a net-zero target in line with a 1.5°C future., which is led by the Science-Based Targets initiative (SBTi). I believe that we can yet build a better, safer, and greener future, and this commitment will rightly help us to achieve that.”, he added.
Earlier this year, Hindustan Zinc was awarded the Most Sustainable Company in the Mining Industry by World Finance at their Sustainability Awards 2021, the company said.
As a COP26 Business Leader, the company has always been actively initiating towards tackling the repercussions of climate change. The company is also among the only two mining companies globally and among only four Indian companies to be a part of the coveted CDP (Carbon Disclosure Project) ‘A List’ 2020, the company said.
Hindustan Zinc has set Sustainability Development Goals 2025 for themselves where the company is aiming towards 0.5 mn tCO2e GHG emission savings in their operations from the base year 2017 as part of their climate risk mitigation efforts, the company added.
Hindustan Zinc has also signed MoUs with Epiroc and Normet to bring Battery Electric Vehicles (BEVs) in underground mining. This initiative is the first of its kind in India in the mining sector that will help in reducing carbon emissions, enabling the mine operations to become more environmentally friendly.
Epitomizing toward smart, secure, and sustainable operations, the company has launched its first TCFD (Task Force on Climate-related financial disclosure) report which sets the adoption of the TCFD framework for climate change risk and opportunity disclosure.
The ‘Business Ambition for 1.5°C’ campaign is backed by a global coalition of UN leaders, business organizations, and NGOs. The Science Based Targets initiative (SBTi), which leads the campaign, drives ambitious climate action in the private sector by enabling companies to set science-based emission reduction targets. The Science Based Targets initiative (SBTi) aims at joining a growing group of leading companies that are demonstrating the highest level of ambition on climate and paving the way to a net-zero future.
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